Union Minister Nirmala Sitharaman recently highlighted a remarkable trend: the substantial growth in the presence of women directors in active corporate entities.
This positive shift reflects both progress and the concerted efforts to promote gender diversity in boardrooms across India.
Women Directors: The Numbers Speak
At the national level, the data is compelling. As of August 2024, there are approximately 8.83 lakh (883,000) women directors associated with active companies in India.
This figure represents a remarkable three-fold increase from the 2.58 lakh (258,000) women directors recorded in 2014.
The surge in women’s representation in boardrooms is a testament to the evolving landscape of corporate governance and the recognition of women’s leadership capabilities.
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Tamil Nadu’s Impressive Leap
Tamil Nadu, in particular, has witnessed an even more significant transformation.
Over the same period, the number of women directors in the state has surged by 4.3 times—from 15,550 in 2014 to an impressive 68,000 in August 2024.
This four-fold increase underscores the commitment of Tamil Nadu’s corporate sector to fostering gender-inclusive leadership.
Government Initiatives and Budget Allocations
The Modi-led government has consistently emphasized women’s participation across sectors. This commitment is evident not only in policy pronouncements but also in budgetary allocations.
In fiscal year 2014, the Centre provisioned Rs 97,134 crore for schemes aimed at women’s welfare and empowerment. Fast forward to the FY2025 budget, and this allocation has tripled to Rs 3.10 lakh crore.
The expanding gender budget reflects the government’s dedication to creating an enabling environment for women to thrive in various spheres.
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Women Directors: Corporate Boardrooms and Nifty 50 Companies
Beyond the numbers, the qualitative impact is equally significant. A study conducted by research firm Deloitte reveals that women directors now constitute 22 per cent of the boards of Nifty 50 companies—a notable increase from the 18 per cent recorded in 2019.
This shift signifies a growing recognition of the value that diverse perspectives bring to strategic decision-making and governance.
In her comprehensive address, Sitharaman also highlighted other milestones. For instance:
CSIR’s First Woman Director General: The Council of Scientific Industrial Research (CSIR), India’s premier civilian research organization, appointed its first woman Director General, Dr. N. Kalaiselvi, in 2022. This historic moment underscores the importance of women’s leadership in scientific and research institutions.
Women in Defense and National Security: The armed forces have made strides in gender inclusivity. Females are now allowed in combat services across all three branches, and the Indian Air Force (IAF) has adopted gender-neutral recruitment practices. Women officers contribute significantly to the defense and security of the nation.
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